Loan Repayment Information

Students are required to pay back all federal student loans borrowed according to the terms of the Master Promissory Note. When it comes time to repay your Federal Direct Student Loan, you will need to select a repayment plan. There are several repayment plans to choose from. How much you pay and how long you take to repay your loans will vary depending on the repayment plan you choose. Consolidation loans also have varying repayment plans.

Repayment Information

The most common repayment plan options are: Standard, Extended, Graduated, Income Contingent, Income-Driven and Income-Sensitive. For detailed descriptions of each repayment plan option, visit the Federal Student Aid website. Please Note: students seeking face-to-face guidance may contact One-Stop Student Services in order to schedule an appointment with a Financial Aid Specialist.

Repayment Estimator

The U.S. Department of Education's Federal Student Aid website features a Repayment Estimator. This is a personalized tool you can use to explore repayment options based on your income. You'll need your federal FSA ID to log in and access your actual loan information.

Sample Loan Repayment Schedules

The following sample loan repayment charts can be used to estimate your loan repayment under the standard repayment plan. These charts are for estimating purposes only. Figures have been rounded up to the nearest whole dollar and represent minimum payments over a maximum of 10 years. Amounts do not include interest that may accumulate during periods of deferment or forbearance. Lower balances may take less than 10 years to repay at the minimum monthly payment of $50. Note: the examples below are based on an average interest rate. For information on the current year interest rate visit the financial aid Loan website.

Direct Loan Sample Repayment Schedules

Undergraduate 4.29% Fixed Interest Rate

Amount Borrowed

Monthly Payment

# of Payments

Total Interest

Total Repaid

$500

$50

11

$10

$510

$1,000

$50

22

$39

$1,039

$3,500

$50

83

$536

$4,036

$4,500

$52

106

$894

$5,394

$8,000

$92

107

$1,599

$9,599

$10,000

$115

107

$1,999

$11,999

$12,000

$138

107

$2,399

$14,399

$15,000

$173

106

$2,988

$17,988

$20,000

$230

107

$3,998

$23,998

$23,000

$265

107

$4,587

$27,587

$31,000

$357

107

$6,186

$37,186

$40,000

$460

107

$7,996

$47,996

$46,000

$529

107

$9,196

$55,196

$50,000

$575

107

$9,996

$59,996

$57,000

$662

120

$11,478

$68,798

Graduate 6.21% Fixed Interest Rate

Amount Borrowed

Monthly Payment

# of Payments

Total Interest

Total Repaid

$500

$50

11

$14

$515

$1,000

$50

24

$59

$1,059

$3,500

$50

90

$858

$4,358

$4,500

$54

118

$1,484

$5,984

$8,000

$97

118

$2,657

$10,567

$10,000

$121

118

$3,322

$13,322

$12,000

$145

118

$3,986

$15,986

$15,000

$181

118

$4,961

$19,961

$20,000

$242

118

$6,643

$26,643

$23,000

$278

118

$7,618

$30,618

$31,000

$374

118

$10,275

$41,275

$40,000

$483

118

$13,286

$53,286

$46,000

$556

118

$15,278

$61,278

$50,000

$604

118

$16,607

$66,607

$57,000

$695

118

$19,066

$76,566

Graduate/Professional and Parent PLUS Loan Sample Repayment Schedule

Parents and Grad PLUS 7.21%

Amount Borrowed

Monthly Report

# of Payments

Total Interest

Total Repaid

$500

$50

11

$18

$518

$1,000

$50

24

$69

$1,069

$3,500

$50

94

$1,056

$4,556

$4,500

$52

125

$1,872

$6,372

$8,000

$92

126

$3,354

$11,354

$10,000

$115

126

$4,192

$14,192

$12,000

$138

126

$5,030

$17,030

$15,000

$173

125

$6,258

$21,258

$20,000

$230

126

$8,384

$28,384

$23,000

$265

126

$9,611

$32,611

$31,000

$357

126

$12,965

$43,965

$40,000

$460

126

$16,767

$56,767

$46,000

$529

126

$19,282

$65,272

$50,000

$575

126

$20,959

$70,959

$57,000

$662

126

$24,058

$81,558

FSA Ombudsman Group

The Federal Student Aid (FSA) Ombudsman Group of the U.S. Department of Education (ED) is a neutral, informal, and confidential resource to help resolve disputes about federal student loans. The FSA Ombudsman Group should only be contacted as a last resort after efforts to resolve your student loan problems with your lender or servicer have been made.